According to their website, Apple (AAPL.O) raised the cost of their subscriptions for Apple TV+ and Apple News+ on Wednesday. This makes them the latest firm to do so, after other major media companies.
Apple News+ is now $12.99 per month, up from $9.99, and Apple TV+ is now $3 more expensive at $9.99.
The two biggest streaming companies, Netflix (NFLX.O) and Disney (DIS.N) have recently upped their pricing to spur growth under fierce competition.
When Netflix released its results last week, it raised the subscription cost for a few streaming plans in the US, UK, and France.
In August, Disney (DIS.N) said it would increase the cost of the ad-free tier of its Disney+ service by 27% to $13.99 and the price of Hulu’s no-ad version by 20%.
Apple is committed to transparency and has communicated these price changes to its subscribers. Existing subscribers will be informed about the updated pricing structure, while new subscribers will see the revised prices upon signup.
The price adjustments for Apple TV+ and Apple News+ reflect Apple’s ongoing dedication to delivering premium content and supporting content creators and publishers. These changes aim to sustain the quality and growth of these services and cater to subscribers’ evolving preferences and expectations in the competitive digital media landscape.